Southwest Gas Corporation (NYSE:SWX) had its price target boosted by UBS AG from $83.00 to $85.00 in a report published on Wednesday morning, www.benzinga.com reports. They currently have a neutral rating on the utilities provider’s stock.
SWX has been the topic of several other research reports. Jefferies Group LLC reissued a hold rating and issued a $70.00 price target on shares of Southwest Gas Corporation in a research report on Monday, October 16th. KeyCorp reissued a hold rating on shares of Southwest Gas Corporation in a research report on Friday, September 1st. Zacks Investment Research raised shares of Southwest Gas Corporation from a sell rating to a hold rating in a research report on Wednesday, August 16th. Finally, BidaskClub lowered shares of Southwest Gas Corporation from a hold rating to a sell rating in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Southwest Gas Corporation currently has an average rating of Hold and a consensus target price of $81.00.
Southwest Gas Corporation (NYSE:SWX) traded down $1.72 during midday trading on Wednesday, hitting $80.08. 256,000 shares of the stock traded hands, compared to its average volume of 200,032. Southwest Gas Corporation has a one year low of $70.68 and a one year high of $86.65. The company has a current ratio of 0.82, a quick ratio of 0.99 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $3,822.38, a price-to-earnings ratio of 23.55, a P/E/G ratio of 3.63 and a beta of 0.61.
Southwest Gas Corporation (NYSE:SWX) last posted its quarterly earnings results on Tuesday, November 7th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.07. Southwest Gas Corporation had a net margin of 6.64% and a return on equity of 9.56%. The company had revenue of $593.15 million for the quarter, compared to analyst estimates of $579.40 million. During the same quarter in the previous year, the firm posted $0.05 earnings per share. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. equities research analysts expect that Southwest Gas Corporation will post 3.42 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be issued a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Tuesday, November 14th. Southwest Gas Corporation’s dividend payout ratio (DPR) is presently 58.24%.
A number of institutional investors have recently bought and sold shares of the stock. State Street Corp increased its holdings in Southwest Gas Corporation by 3.6% during the 2nd quarter. State Street Corp now owns 1,654,461 shares of the utilities provider’s stock worth $120,875,000 after acquiring an additional 57,189 shares during the period. Macquarie Group Ltd. increased its holdings in Southwest Gas Corporation by 17.7% during the 3rd quarter. Macquarie Group Ltd. now owns 1,593,803 shares of the utilities provider’s stock worth $123,711,000 after acquiring an additional 239,993 shares during the period. Northern Trust Corp increased its holdings in Southwest Gas Corporation by 1.8% during the 2nd quarter. Northern Trust Corp now owns 1,444,315 shares of the utilities provider’s stock worth $105,521,000 after acquiring an additional 26,071 shares during the period. FMR LLC increased its holdings in Southwest Gas Corporation by 13.0% during the 2nd quarter. FMR LLC now owns 890,233 shares of the utilities provider’s stock worth $65,040,000 after acquiring an additional 102,527 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Southwest Gas Corporation by 12.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 819,202 shares of the utilities provider’s stock worth $64,808,000 after buying an additional 92,559 shares during the last quarter. 76.76% of the stock is currently owned by institutional investors and hedge funds.
Southwest Gas Corporation Company Profile
Southwest Gas Holdings, Inc, formerly Southwest Gas Corporation, is engaged in the business of purchasing, distributing and transporting natural gas. The Company operates through two segments: natural gas operations and construction services, which includes the operations of the Company’s subsidiary, Centuri Construction Group, Inc (Centuri).
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